Real-world asset tokenization protocol Ondo Finance is venturing into private markets by introducing tokenized exposure to an undisclosed pre-IPO artificial intelligence firm.
The network unveiled Ondo Private Markets, delivering tokenized notes with returns tied to the value accrued per common share of the underlying corporation during a qualifying liquidity event. These notes supply economic exposure while avoiding direct equity ownership in the business.
Qualified participants can store these notes within self-custody crypto wallets or exchange them across secondary markets twenty-four hours a day. Ondo noted that initial trading for these notes is anticipated to begin this week, with subsequent offerings connected to firms specializing in robotics, cybersecurity, biotechnology, infrastructure, and additional industries slated for later rollout.
Ondo Stocks, which serves as the protocol’s ecosystem for tokenized US equities and exchange-traded funds, currently holds over $1 billion in total value locked alongside a catalog exceeding 450 tokenized stocks and ETFs, based on data provided by the enterprise.
Additional networks have likewise branched out into private markets. Back in April, the venture arm of Robinhood allocated $75 million toward OpenAI common stock to grant everyday traders exposure utilizing its publicly listed closed-end fund. Meanwhile, Citigroup was featured in June reports indicating it would roll out a distributed ledger marketplace dedicated to shares of private corporations.
Related: Franklin Templeton, Ondo to launch tokenized ETFs with 24/7 trading via crypto wallets
Originally published at https://cointelegraph.com/news/ondo-private-markets-tokenized-pre-ipo-ai?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
